Medical device company TransEnterix, which has already commercialized a minimally invasive surgical system known as Spider, is now developing a robotic surgical system that could compete against Intuitive Surgical’s (NASDAQ:ISRG) da Vinci robot.
Research Triangle Park-based TransEnterix’s surgical system, called SurgiBot, is in testing now but the company said Tuesday that it could be ready for regulatory review by the Food and Drug Administration as soon as next year.
However, the company is reluctant to disclose information beyond a statement it released. For example, WRALTechWire requested a photo of the device or a graphic that describes how it works. The company declined.
Privately-held TranEnterix’s first product was the SPIDER surgical system, a minimally invasive system that requires only a small incision in the belly button to give surgeons access to the abdomen to perform a variety of procedures. SPIDER is a manual system operated by a surgeon’s hands. Because SPIDER requires a single incision for these laparascopic procedures, patient scarring is reduced and recovery is faster. The FDA granted marketing clearance to SPIDER in 2009.
SurgiBot follows SPIDER’s path by bringing robotic capabilities to the manual surgical platform established by SPIDER. TranEnterix said that SurgiBot is mobile, provides high-definition 3D vision and allows the surgeon to remain at the patient’s side.
“TransEnterix has ‘powered up’ laparoscopy to make it easier for surgeons to complete procedures in the most minimally invasive way possible,” CEO Todd Pope said in a statement.
Dr. Juan-Carlos Verdeja, the medical director for general surgery at Baptist Health South Florida and an investigator who used SurgiBot in prototype pre-clinical testing, said that the system brings added strength, precision and visualization to what had been manual laparascopic tasks.
Sunnyvale, Calif.-based Intuitive has established itself as a leader in minimally invasive surgical systems; its more than 2,500 installed Vinci robots in 2012 helped the company top $2.1 billion in 2012 revenue, according to company filings. TransEnterix doesn’t specifically name Intuitive Surgical as a competitive target but its description of SurgiBot marks a clear contrast to the Intuitive product. Allowing the surgeon to stay by the patient’s side differentiates SurgiBot from Intuitive’s da Vinci, which places the surgeon’s controls in a different part of the operating room or even a separate room altogether. TranEnterix says SurgiBot is smaller and will take up less space than other robotic systems. And while TransEnterix isn’t talking specifics about price yet, the company does say SurgiBot will cost less than other robotic platforms.
The da Vinci sells for between $1 million and $2.3 million depending on the configuration of the robot and the geography where it is sold. Intuitive also draws recurring revenue from contracts to service the robots, which each cost between $100,000 and $170,000 a year. A robotic system that takes up less space and costs less money than the da Vinci would be an attractive alternative to hospitals looking at adding robotic surgery capabilities.
TransEnterix, founded in 2006, emerged from Synecor, a medical devices business accelerator with locations in RTP and Silicon Valley. The company has raised more than $75 million in venture capital financing from Aisling Capital, Intersouth Partners, Quaker Partners, SV Life Science Advisers, Synergy Life Science Partners and Parish Capital Advisors.
TranEnterix said it plans to seek 510(k) market clearance from the FDA for SurgiBot in 2014.
